The IHS Markit Vietnam Manufacturing PMI edged lower to 50.8 in December 2019 from 51.0 in November, due to a slight reduction in output. Meanwhile, new orders grew the most since August, despite the first decline in exports in just over four years, while both employment and input buying were up for the second straight month. In terms of inflation, input costs increased the most in seven months boosted by higher market prices for raw materials, and selling prices rose for the second time in the past three months. Looking ahead, business confidence was unchanged, with firms expecting output to expand over the coming year.

Manufacturing PMI in Vietnam averaged 51.65 from 2012 until 2019, reaching an all time high of 56.50 in November of 2018 and a record low of 43.60 in July of 2012. This page provides the latest reported value for - Vietnam Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Markit Economics

Manufacturing PMI in Vietnam is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Vietnam to stand at 51.00 in 12 months time. In the long-term, the Vietnam Manufacturing PMI is projected to trend around 50.90 points in 2020, according to our econometric models.

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Vietnam Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
50.80 51.00 56.50 43.60 2012 - 2019 points Monthly

News Stream
Vietnam Manufacturing Growh Little-Changed in November
The IHS Markit Vietnam Manufacturing PMI edged higher to 51.0 in November 2019 from a four-month low of 50.0 in a month earlier. Output increased for the first time in three months, new orders expanded at a faster pace and new export orders picked up. In addition, employment also returned to growth, while firms reported another modest accumulation of backlogs of work. Input buying went up modestly after being no changed in the previous month and contributed to an accumulation of stocks of purchases. On the price front, rate of input cost inflation softened to an 11-month low, with output prices reduced accordingly. Finally, sentiment dipped, but remained positive.

Vietnam Manufacturing Conditions Unchanged
The IHS Markit Vietnam Manufacturing PMI dropped to 50 in October 2019, the lowest since November 2015. Both new orders and exports grew at softer paces, with back-to-back declines in output being seen for the first time since the third quarter of 2013. Also, buying level was unchanged, ending a 46-month sequence of expansion; while employment fell for the second straight month and at the steepest rate since March 2015. At the same time, backlogs of work increased for the fourth time in the past five months. On the price front, the rate of input cost inflation accelerated and firms raised their charges for the first time in almost a year in response. Looking ahead, confidence rebounded from a 13-month low and was back to the level registered in August.

Vietnam Manufacturing PMI Falls to 3-1/2-Year Low
The IHS Markit Vietnam Manufacturing PMI dropped to 50.5 in September 2019, the lowest since February 2016, from 51.4 in a month earlier. New orders grew the least in three years, and overseas sales also slowed while there was a slight fall in output, the first since November 2017. In addition, buying levels slowed to near-stagnation; and staffing levels were reduced, ending a three-month sequence of job creation, mainly attributable to resignations. In terms of prices, input cost inflation remained muted, enabling manufacturers to offer price reductions to customers in order to stimulate demand. Looking ahead, sentiment deteriorated for the second straight month to the lowest since August last year amid concerns over market demand.

Vietnam Manufacturing PMI Lowest in 6 Months
The IHS Markit Vietnam Manufacturing PMI dropped to a six-month low of 51.4 in August 2019 from 52.6 in a month earlier. Output growth slowed to a 21-month low and new orders rose the least since January. Meanwhile, overseas sales expanded modestly for the second month running and both purchasing activity and employment continued to increase. In terms of prices, input cost inflation eased to a seven-month low, enabling ongoing reductions in selling prices. Finally, business confidence dropped to a six-month low.

Vietnam Manufacturing PMI Rises to 7-Month High
The IHS Markit Vietnam Manufacturing PMI ticked up to 52.6 in July 2019 from 52.5 in the prior month. This was the highest PMI reading in seven months, as output grew for the third month running to the fastest since last November, and new orders advanced solidly. In addition, employment rose for the third time in four months, while input buying rose sharply, and at a broadly similar pace to the previous month. Meantime, export sales increased the least in 44 months, amid ongoing global trade dispute. On the price front, input cost inflation softened for the third successive month, with some panellists citing China as a source of falling prices. Also, selling prices were reduced for the eighth month running, though the rate of decline was only marginal. Finally, manufacturers remained upbeat, amid expectations of higher new orders over the next 12 months.

Vietnam Factory Growth Accelerates in June
The Nikkei Vietnam Manufacturing PMI rose to 52.5 in June 2019 from 52.0 in a month earlier. New orders grew at the fastest rate so far this year, the upturn in output was solid, and there was a return to job creation after employment dipped marginally in May. Meanwhile, export orders grew the least since February, impacted negatively by the US-China trade tensions. At the same time, purchasing activity increased the most in three months, with some panellists reporting efforts to build inventory reserves, while stocks of finished goods decreased modestly for the second month in a row. In terms of prices, input prices rose at a relatively modest pace, and one that was the softest in three months, while charges fell for the seventh straight month. Looking ahead, the level of confidence dropped sharply and was the lowest since February, amid concerns regarding the US-China trade situation.

Vietnam Manufacturing PMI
The IHS Markit Vietnam Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 400 manufacturing companies. The Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Vietnam Business Last Previous Highest Lowest Unit
Manufacturing PMI 50.80 51.00 56.50 43.60 points [+]
Industrial Production 6.20 5.40 28.40 -10.10 percent [+]
Manufacturing Production 6.50 10.80 26.30 -12.40 percent [+]
Changes in Inventories 148644.00 140219.87 148644.00 530.00 VND Billion [+]
Car Registrations 31425.00 27989.00 32511.00 2992.00 [+]
Internet Speed 9503.83 8250.20 9503.83 702.84 KBps [+]
IP Addresses 8616202.00 8120243.00 8616202.00 739771.00 IP [+]
Mining Production -5.30 -0.20 14.80 -17.70 percent [+]
Competitiveness Index 61.54 58.05 61.54 4.02 Points [+]
Competitiveness Rank 67.00 77.00 77.00 56.00 [+]
Ease of Doing Business 70.00 69.00 99.00 68.00 [+]
Electricity Production 18400.00 18800.00 21100.00 671.00 Gigawatt-hour [+]
Corruption Index 37.00 33.00 37.00 24.00 Points [+]
Corruption Rank 96.00 117.00 123.00 43.00 [+]